The single greatest benefit to being a long investor is it prevents you from making decisions. Decisions that almost surely will be wrong more often than right. I am a firm believer of two things.....

1. Placing your money in top quality companies and letting it ride. The key is identifying those companies and of course conquering psychology where human impulse likes to take over.
2. I'm not that smart! I'm more confident in this dictum than the first one. I've seen first hand the mistakes I make when I start to think I have some novel idea- investing in Intel with the belief chips were going to be manufactured in the US overnight, Investing in a packaging company called West Rock thinking they had their market cornered, selling Berkshire at $424 because it had run up too much. I could go on and on. Let's just say my net worth benefits when I don't make decisions.